Fitch rates Hong Leong Bank notes BBB+

Fitch Ratings said it assigned a final rating of BBB+ to Hong Leong Bank Bhd.'s $300 million senior notes issued under its $1.5 billion medium-term note program.

This follows the completion of the notes issue and the receipt of final documents conforming to information previously received.

The final rating is same as the expected rating recently assigned, Fitch said.

The notes are rated at the same level as the bank's long-term foreign-currency issuer default rating of BBB+. The bank also has a short-term foreign-currency issuer default rating of F2 and viability rating of BBB+.

This is because the notes constitute direct, unsubordinated and senior unsecured obligations of the bank and rank equally with all its other unsecured and unsubordinated obligations.

The proceeds will be used for the bank's general working capital and other corporate purposes.

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